Half a truth is often a great lie.

- Benjamin Franklin


Any good economist will tell you that it is easy to spot a recession once it has started. We are in a recession when consumers cut back on spending, whether they are forced to because of lack of funds or just worried, it makes no difference. Sure, the dollar is incredibly weak and home foreclosures are sky-rocketing, but the reason is insignificant--the simple truth of the matter is that consumers are losing confidence in the economy. (Unfortunately, it does not show up in the data until after the lack of confidence has put the brakes on the economy.)

For the wise, a recessionary economy can provide incredible opportunity.

We do not want to appear doom and gloom, but the faster markets correct the shorter the pain. Point: get the government out of the way.

posted at 20:07:37 on 10/29/07 by clearpolitics - Category: Economics - [Permalink]

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